Carvana (CVNA) - 2024 Q1 - Quarterly Results
CVNACarvana (CVNA)2024-05-02 04:10

Exhibit 99.1 Dear Shareholders, In the first quarter, we delivered our best financial results in company history; for that reason, it is a quarter worthy of reflection. In Q1, we achieved a net income margin of 1.6% and a company-record Adjusted EBITDA margin of 7.7%. By the latter measure, for the first time, we became the most profitable public automotive retailer in the U.S. We returned to growth, growing 16% despite decreasing marketing dollars and constrained inventory. We completed our third quarter o ...